Office provider invests €1.5m

OFFICE outsourcing firm Regus is expanding in Munster with an initial investment of €1.5 million.

The company, which operates in 400 cities worldwide will open a base in Cork this September and is also looking to expand to Limerick and Waterford.

It will employ up to 10 people in Cork at the €100m City Gate scheme in Mahon where it has taken out a 25 year lease.

Regus’ regional general manager, Michael Barth said the number of enquiries from people looking for office space in Cork and Dublin is increasing.

“Ireland as a whole is a market we want to be in and grow in. The demand is high in Ireland and it is a very good market,” he said.

Regus already has three locations in Dublin, where it also has 35 competitors.

However Mr Barth said that if the opportunity to acquire smaller companies in Dublin presented itself it would look seriously at the possibilities.

Regus had considered locating in the new Elysian mixed office and residential development which is close to Cork City Hall before deciding on Mahon.

The licence to operate the Regus business in Munster is owned by Ronald van Bueren of Cork View One.

“I believe Cork will be a success and I am concentrating on making it a success at the moment. In time I’ll be looking to Limerick and in the long-term Waterford,” he said.

Mr van Bueren expects the Cork business to be profitable within 18 months.

Office space will be priced like a hotel — depending on a person’s needs, he claims.

A basic workstation in Cork would cost around €450 a month but this will vary depending on a person’s requirements.